NEWS
Calidi Biotherapeutics Announces FDA Clearance of the Northwestern University IND Application for CLD-101 Clinical Trial in High-Grade Glioma
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IamBadNewz : Why price action not reflective of news? Just low volume??
Jaguar8 OP IamBadNewz : It all depend on market sentiment for it to have buy volume. Also at times there is delayed market reaction
IamBadNewz Jaguar8 OP : Ahh. I see. Thank you for this.
Arrayfunction IamBadNewz : If you look at the company tab, you can also see just how bad their financials are. No earnings, barely any assets, debt up to their eyeballs and a share price barely over a dollar despite just doing a RS split in 3 months ago.
Also remember an IND won't cause any revenue streams to appear; it's just approval that they can start human trials. Those cost millions of dollars and usually around a decade to run. They also have about an 80%-90% failure rate.
Taken together that means that even though the IND is legitimately good news, it will be very difficult for them to obtain investor confidence because of how high their risk of going out of business is. If there was a bounce in this case, it would also be pretty much the definition of what short sellers would be looking for to go heavy and tank it.
Hope that extra context may help!
Jaguar8 OP Arrayfunction : I don’t care about financials since I’m not investing on it. I’m merely day trading it based on charts and order book. Only investors will be concerned about financials. I even play delisting companies and earn from it.
Arrayfunction Jaguar8 OP : Sorry, I didn't mean to imply anything about you. I was just replying to BadNewz in case that information would be of any help to him is all! I know I wouldn't be able to understand the fundamental analysis for a bank or utility company for example